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journal entry

journal entry

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Shower Flower Company bought equipment, paying cash, P2,500. The accou C. will not balance. total debits in the trial balance will be larger than the total credits d. Cash account balance will be overstated. 7. 10. a. The credi b. The debi would record the following journal entry: C. Peso sig a. Cash d. P2,500 Equipment b. Equipment 11. Lohan Com Cash P2,500 P2,500 Cash Equipme c.. Equipment P2,500 Account P2,500 Accounts Payable d. Equipment Expense T. Loha P2,500 T. Loha P2,500 Incom Cash P2,500 Rent 8. Salar E. Elijah, owner, withdrew P3,000 for personal use. The accountant would ra the following journal entry: Wha a. Cash P3,000 a. E. Elijah, Capital Income from Services b. b. P3,000 c. P3,000 Cash P3,000 C. E. Elijah, Drawing P3,000 Cash 12. N d. Wages Expense P3,000 P3,000 Cash P3,000 9. Dungeon Company paid the monthly rent, P6,000. The accountant would ra
Transcribed Image Text:Shower Flower Company bought equipment, paying cash, P2,500. The accou C. will not balance. total debits in the trial balance will be larger than the total credits d. Cash account balance will be overstated. 7. 10. a. The credi b. The debi would record the following journal entry: C. Peso sig a. Cash d. P2,500 Equipment b. Equipment 11. Lohan Com Cash P2,500 P2,500 Cash Equipme c.. Equipment P2,500 Account P2,500 Accounts Payable d. Equipment Expense T. Loha P2,500 T. Loha P2,500 Incom Cash P2,500 Rent 8. Salar E. Elijah, owner, withdrew P3,000 for personal use. The accountant would ra the following journal entry: Wha a. Cash P3,000 a. E. Elijah, Capital Income from Services b. b. P3,000 c. P3,000 Cash P3,000 C. E. Elijah, Drawing P3,000 Cash 12. N d. Wages Expense P3,000 P3,000 Cash P3,000 9. Dungeon Company paid the monthly rent, P6,000. The accountant would ra
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